Loan Calculator
Price any loan: monthly payment, total interest, the payoff date - and how much extra payments save you.
Runs entirely on your device - nothing is ever uploaded.
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How to use the loan calculator
- Enter the loan amount and annual interest rate.
- Set the term in years, plus extra months if needed.
- Add an optional extra monthly payment to see interest saved and the earlier payoff date.
How loan amortization works
Each fixed payment first covers that month's interest, and the rest reduces principal. Because interest is charged on the shrinking balance, later payments attack principal harder - the balance curve on this page shows that acceleration, and the year-by-year schedule below lists every year's split. Extra payments skip straight to principal, which is why even $50 more a month compounds into real savings.
Worked example
Borrow $25,000 at 8% for 5 years: the payment is about $507 a month and total interest about $5,415. Add $100 extra a month and you finish roughly a year early while saving over $1,000 in interest.